Sun Communities, Inc. (NYSE:SUI) Shares Bought by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its holdings in shares of Sun Communities, Inc. (NYSE:SUI) by 13,314.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,975 shares of the real estate investment trust’s stock after acquiring an additional 17,841 shares during the quarter. International Assets Investment Management LLC’s holdings in Sun Communities were worth $2,429,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SUI. Price T Rowe Associates Inc. MD increased its stake in Sun Communities by 50.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,302,804 shares of the real estate investment trust’s stock worth $424,677,000 after acquiring an additional 1,105,306 shares during the last quarter. PGGM Investments increased its stake in Sun Communities by 159.9% during the second quarter. PGGM Investments now owns 1,246,739 shares of the real estate investment trust’s stock worth $150,033,000 after acquiring an additional 767,126 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in Sun Communities by 24.0% during the second quarter. Daiwa Securities Group Inc. now owns 2,195,884 shares of the real estate investment trust’s stock worth $264,253,000 after acquiring an additional 424,842 shares during the last quarter. Hsbc Holdings PLC increased its stake in Sun Communities by 199.1% during the second quarter. Hsbc Holdings PLC now owns 358,284 shares of the real estate investment trust’s stock worth $42,754,000 after acquiring an additional 238,498 shares during the last quarter. Finally, National Bank of Canada FI increased its stake in Sun Communities by 499.9% during the first quarter. National Bank of Canada FI now owns 157,977 shares of the real estate investment trust’s stock worth $18,562,000 after acquiring an additional 131,641 shares during the last quarter. Institutional investors and hedge funds own 99.59% of the company’s stock.

Insider Buying and Selling at Sun Communities

In other Sun Communities news, CEO Baxter Underwood sold 3,000 shares of Sun Communities stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $131.43, for a total value of $394,290.00. Following the sale, the chief executive officer now owns 63,462 shares of the company’s stock, valued at approximately $8,340,810.66. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.89% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SUI has been the subject of several research analyst reports. Wells Fargo & Company raised their price target on Sun Communities from $123.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 19th. Truist Financial raised their price target on Sun Communities from $127.00 to $138.00 and gave the stock a “hold” rating in a research report on Tuesday, August 13th. Royal Bank of Canada raised their price target on Sun Communities from $131.00 to $137.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. UBS Group upgraded Sun Communities to a “strong-buy” rating in a research report on Thursday, October 10th. Finally, StockNews.com lowered Sun Communities from a “hold” rating to a “sell” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Sun Communities presently has an average rating of “Moderate Buy” and an average price target of $143.91.

Sun Communities Stock Performance

Shares of SUI stock opened at $130.31 on Friday. The stock has a market capitalization of $16.25 billion, a PE ratio of 151.53, a price-to-earnings-growth ratio of 0.97 and a beta of 0.91. Sun Communities, Inc. has a 52-week low of $110.98 and a 52-week high of $147.83. The stock’s 50-day moving average price is $135.78 and its 200 day moving average price is $126.49. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 1.09.

Sun Communities Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date was Monday, September 30th. Sun Communities’s dividend payout ratio is presently 437.21%.

About Sun Communities

Established in 1975, Sun Communities, Inc became a publicly owned corporation in December 1993. The Company is a fully integrated REIT listed on the New York Stock Exchange under the symbol: SUI. As of December 31, 2023, the Company owned, operated, or had an interest in a portfolio of 667 developed MH, RV and Marina properties comprising 179,310 developed sites and approximately 48,030 wet slips and dry storage spaces in the U.S., the UK and Canada.